Africa-Press – Namibia. Namibia’s creative industry is contributing 1.5% to the country’s gross domestic product (GDP), Bank of Namibia governor Johannes !Gawaxab says.
He was speaking at the central bank’s recent annual symposium, which focused on the creative industry.
The sector is not just about entertainment, but contributes to the economy, the governor said.
However, due to many challenges, the sector remains undervalued.
“Our creatives are not lacking in talent; they are stifled by the absence of financing, faced with disorganisation within the sector, limited by a dearth of opportunities,” !Gawaxab said.
He said the government plans to raise the creative industry’s GDP contribution from 1.5% to 3%.
To do this, he said Namibians should leverage technology to scale their reach to a global audience.
“Through social media and other tools, creatives can monetise their talents, skills, and knowledge – whether through brand deals, digital products, subscription services or even merchandise,” !Gawaxab said.
In Namibia, creatives cannot monetise their content, since there is no payment platform to support monetisation.
The central bank plans to launch an instant payment system next year that would allow creatives to be paid through this platform.
“This system will provide real-time, low-cost, and interoperable digital payments nationwide, empowering creatives, freelancers, and small enterprises through faster, more affordable transactions and improved access to finance,” !Gawaxab said.
Deputy governor Ebson Uanguta said N$6.6 million was collected by the creative industry between 2019 and 2023 in royalties, with the majority (53%) being paid to Namibian artists.
The remainder was paid to international artists. Uanguta said international artists’ share has increased in recent years, reflecting rising collaboration and competition.
He said Namibia recorded 327 film productions between 2022 and 2024, which spent over N$122.5 million and created 2 412 jobs.
He said as the digital landscape changes, more opportunities will be opening up for the creative industry.
“As digital platforms expand access to global audiences, the sector’s potential to drive inclusive growth and innovation is becoming clearer, positioning creativity not as leisure, but as a cornerstone of Namibia’s economic future,” Uanguta said.
This is the first time the central bank hosted a symposium that focused on the creative industry.
For More News And Analysis About Namibia Follow Africa-Press
